July 23, 2013
4 Comments
Shaun
One of the hardest issues these days for buy here pay here lot owners is finding access to working capital or credit lines. With more and more car owners and home owners defaulting on their loans, banks are now tightening up their credit and taking a harder look at credit the credit risk of both the dealer and the car owner. Although the SBA has rolled out some new initiatives to help car lot owners, that cash has yet to have a good impact on sales. Private institutions and private lending are taking a chance by offering credit lines to…
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July 22, 2013
4 Comments
Shaun
The used car lot model of Buy here pay here has been in existance for over 50 years. The model goes like this: the car lot itself offers its own inhouse financing as an alternative to traditional bank lenders. Typically, their consumer is a buyer with either no credit at all, or less than satisfactory credit that prevents banks from lending to them. The biggest issues that Buy Here Pay Here dealers face is access to capital or credit lines. Outlined below are two popular ways for car lots to leverage their credit to access capital to expand or issue…
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June 23, 2013
4 Comments
admin
If you’re looking to get a lump sum of cash injected into your auto sales or financing business, selling your auto loans in bulk may be the answer. Selling loans in bulk is the alternative to holding on to the note and collecting small monthly payments. Look to an auto loan buyer or buyer of auto notes for information and quotes. An experienced note purchaser or broker should be able to gather some information from you and appraise your bulk auto notes in only a few days. Liquidating your notes can create plenty of opportunities for a small to medium…
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